Aerosmith’s tour cancellation due to Steven Tyler’s health underscores the role of event cancellation insurance provided. Paul Bassman, managing director at Higginbotham Insurance, explains the financial implications for insurers facing significant payouts from such unforeseen events.
Tag: event cancellation insurance
Coronavirus Hits Weddings, Spurs Fights Over Insurance Policies
Weddings are happy events, now hard to find in the age of the coronavirus. They’re being canceled, which means lost work for florists, dressmakers, organists and bands, but not for Eden Denevan, an enterprising wedding invitation designer now offering this suggested wording for couples: “In light of the current global pandemic and social distancing recommendations,… Continue reading Coronavirus Hits Weddings, Spurs Fights Over Insurance Policies
How Will NCAA Recoup Millions from Lost Tournament?
The NCAA made more than $1 billion last year, almost $867 million from the men’s Division I basketball tournament, and most of that from a massive television rights deal with CBS and Turner that runs through the 2032 tournament. The cornonavirus not only wiped out the games, but it will create some unexpected red ink… Continue reading How Will NCAA Recoup Millions from Lost Tournament?
Concert Giants Live Nation and AEG Suspend Tours as Virus Spreads
Live Nation Entertainment and AEG Presents, the corporate behemoths that dominate the concert industry, on Thursday suspended all tour engagements in North America in response to the coronavirus pandemic, according to two people with direct knowledge of the companies’ decisions. The move is a major blow for the concert industry, which was already grappling with… Continue reading Concert Giants Live Nation and AEG Suspend Tours as Virus Spreads
Coronavirus: Maximizing Insurance Coverage for Event Cancellation Losses
Over the past several weeks, the COVID-19 coronavirus outbreak has shaken global markets and caused widespread disruption to businesses throughout the world. As the virus continues to spread around the globe, many companies are faced with the difficult decision of whether to cancel large events due to public health concerns and the threat of travel… Continue reading Coronavirus: Maximizing Insurance Coverage for Event Cancellation Losses
Insurers Rush to Exclude Coronavirus from Event-Cancellation Cover
Businesses looking to buy cancellation insurance for events around the world will not be able to get cover for the new coronavirus outbreak, industry sources said, as insurers rush to exclude the epidemic from their policies. The Shanghai Grand Prix and the Mobile World Congress in Barcelona are among sporting events and major conferences cancelled… Continue reading Insurers Rush to Exclude Coronavirus from Event-Cancellation Cover